• Notification Date: 14-02-2022
• Notification No: N/A

Companies to Furnish CSR Report in Form CSR-2

The Ministry of Corporate Affairs (MCA) has declared a new regulation for the companies. Every company is required to furnish a Corporate Social Responsibility (CSR) report of the preceding financial year (2020-2021) in Form CSR-2 under the provisions of Section 135 (1). The CSR report is mandatory to be furnished by the companies for the Registrar for the preceding financial year and onwards as an addendum to Form AOC-4 or AOC-4 XBRL or AOC-4 NBFC according to the case.

The Companies Amendment Rules, 2022 are mentioned under Section 128(1) and Section 128(3), 129(3), Section 133, Section 134, Section 135(4), Section 136(1), Section 137, and Section 138 read along with Section 469 of the Companies Act, 2013. The Companies Amendment Rules, 2022 highlights the necessity of amendment in the Companies (Account) Rules, 2014.

The new rule shall be inserted under Rule 12 of the Companies Rules, 2014. It shall be added after sub-rule (1A). The new rule specifies that all the companies that are covered under Section 135(1) are required to submit the report on Corporate Social Responsibility (CSR) in Form CSR-2. The report has to be furnished to the Registrar for the preceding financial year (2020-2021) according to the requirement as an addendum to Form AOC-4 or AOC-4 XBRL or AOC-4 NBFC. Form CSR-2 needs to be separately filed for the preceding year within 31st March 2022 after filing the other forms.